Yeah it does. Though in the beginning it may seem as doppelganger of FMA it is rather different. Not only in plot but in spirit too.
Here is an introduction:

Originally Posted by Timcanpi.org

The plot revolves around Allen Walker, a 15-year-old Exorcist, in the midst of an imaginary 19th century Europe. Allen is a member of the Dark Religious Organization, an Order connected with the Vatican which is responsible for the gathering and training of Exorcists.
The mission of such Organization is to stop The Millennium Earl, an evil demon-like entity intending to cleanse the world by destroying all humans in it in the manner of Noah's great flood. The Exorcists themselves are special people gifted with compatibility with Innocence, divine substance created in the ages past to combat the Earl's minions, the Akumas. It is said that there are exactly 109 units of Innocence scattered around the world. Once an Innocence finds its compatible person, it will evolve to become a weapon to fight the Akumas.

I just started reading it (on volume 2) - I'm not a big fan of FMA, and I do see the similarities, but I find this to be much better. It's dark without being scary and has a good setting - also, the information makes SENSE; you don't need to have a discussion and make guesses about what the information meant (okay, so I just finished volume 1 and I don't know, but I can say that the stuff on Innocence made sense and I didn't have to try and fill in the gaps myself).

I've only read chapter one, just did that actually, I don't see hardly any similarities that aren't purely coincidental.

I belive that a "teenager with a wierd hand kicking bad guys asses with some strakge a-kind-of-magic" as a character from both FMA and DGM. And note that bad guys uses not exactly the same a-kind-of-magic, but somehow another type of it. Though this is the end of similarities. Just as i said they only seem to be similar (or at least i felt that way when began reading DGM).

Is asking this question on the subforum ought to attract fans was really smart? Well, whatever.
Definitely worth! It has good (and wide) setting, nice characters, well-balansed action/comedy moments, and clear romantic line! What else do you want?